Jun 04, 2025 (Baystreet.ca via COMTEX) --
Stock markets might waver in mid-week trading today as renewed fears of tariff risks rise. On Tuesday evening, President Trump signed an order to impose tariffs on steel and aluminum imports at a rate of 50%. This is up from 25%.
This tariff action will raise tensions between the U.S. and its two trading partners, China and the European Union. Watch the Euro (FXE), the Japanese Yen (FXY), and the Canadian dollar (FXC).
In Canada, the bank will decide on its interest rate policy. This should increase volatility for its currency.
Wells Fargo (WFC) is on watch after the Federal Reserve lifted a $1.95 trillion cap on its assets. The restriction lasted for seven years. WFC stock may rise by around 3% today in response.
Nvidia (NVDA) surpassed Microsoft (MSFT) as the largest company by market capitalization. This is the first time since January. Microsoft recently fired 6,000 staff in May. It added another 300 to the cut. This staff reduction suggests that the software giant needs to expand profit margins through cost cuts. Conversely, demand for Nvidia GPUs keeps rising.
Hewlett-Packard Enterprise (HPE) is set to rise after posting second-quarter results. It earned $0.38 per share (non-GAAP). Annualized revenue run rates grew by 46% Y/Y to $2.2 billion.
COMTEX_466081421/2559/2025-06-04T09:27:24
